Jio Financial, BlackRock get in-principle SEBI nod for MF business

SEBI has given in-principle approval to Jio Financial Services (JFS) and US-based BlackRock Financial Management to act as co-sponsors and set up their proposed mutual fund business. Both companies announced a deal to form Jio BlackRock, a joint asset management venture, last year. SEBI will grant final approval on fulfilment of certain requirements, a filing by Jio said.